NEW YORK, May 5, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Stemline Therapeutics, Inc. ("STML" or the "Company") (NASDAQ: STML) in connection with the proposed acquisition of the Company by Menarini Group ("Menarini"), a privately-held pharmaceutical company based in Italy. Under the terms of the acquisition agreement, shareholders will be offered a total potential consideration of $12.50 consisting of an upfront payment of $11.50 in cash and a contingent value right appraised at $1.00 for each STML share they own.
If you own STML shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether STML's board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, numerous analysts set target prices above the total potential consideration, with an average target price of $17.64, or $5.14 above the total potential consideration. Additionally, the Company's CCO underscored the success of its drug ELZONRIS, saying "we are very pleased with the solid demand we generated for ELZONRIS in the first year of launch and look to expand our reach in the market as we continue to build a strong commercial foundation."
Given these facts, WeissLaw is concerned whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP